ClariVest Asset Management LLC decreased its position in Wipro Ltd. (NYSE:WIT) by 11.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,153 shares of the company’s stock after selling 26,100 shares during the period. ClariVest Asset Management LLC’s holdings in Wipro were worth $2,448,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Wipro by 53.7% in the first quarter. BlackRock Inc. now owns 255,480 shares of the company’s stock worth $3,213,000 after buying an additional 89,235 shares in the last quarter. State Street Corp increased its stake in shares of Wipro by 6.8% in the first quarter. State Street Corp now owns 2,252,451 shares of the company’s stock worth $28,332,000 after buying an additional 144,090 shares in the last quarter. UBS Group AG increased its stake in shares of Wipro by 27.6% in the first quarter. UBS Group AG now owns 60,308 shares of the company’s stock worth $758,000 after buying an additional 13,032 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Wipro by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 187,392 shares of the company’s stock worth $2,357,000 after buying an additional 10,223 shares in the last quarter. Finally, OLD Mission Capital LLC bought a new stake in shares of Wipro during the first quarter worth about $382,000. 2.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Wipro Ltd. (NYSE:WIT) traded up 0.72% on Monday, hitting $9.81. The stock had a trading volume of 216,806 shares. Wipro Ltd. has a 1-year low of $9.66 and a 1-year high of $13.08. The firm has a 50-day moving average of $10.03 and a 200 day moving average of $11.52. The company has a market capitalization of $24.10 billion, a PE ratio of 18.44 and a beta of 1.06.
Wipro (NYSE:WIT) last released its quarterly earnings results on Tuesday, July 19th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Wipro had a net margin of 16.64% and a return on equity of 18.90%. On average, equities analysts anticipate that Wipro Ltd. will post $0.55 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on WIT shares. Zacks Investment Research raised Wipro from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. HSBC downgraded Wipro from a “hold” rating to a “reduce” rating in a report on Tuesday, August 9th. Wedbush assumed coverage on Wipro in a report on Thursday, September 8th. They issued an “underperform” rating and a $8.50 target price on the stock. Finally, TheStreet downgraded Wipro from a “buy” rating to a “hold” rating in a report on Friday, September 16th. Four research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $11.17.
Wipro Limited (Wipro) is a global information technology (IT) services provider. The Company operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, business process services, research and development and hardware and software design to the enterprises worldwide.
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